Starbucks edges up; Bebe falls following forecast

SAN FRANCISCO (MarketWatch) -- Shares of Starbucks Corp. gained ground in Thursday evening after the coffee retailer reiterated its profit forecast for the year and said it plans a share buyback, while Bebe Stores Inc. shares moved lower after the company's earnings forecast fell short of expectations.

At last check, the Nasdaq 100 After-Hours Indicator, which tracks the evening action of the index's leading technology stocks, finished down 2.1 points at 1,893.58.

Starbucks
SBUX, +1.51%
shares closed up 0.6% at $31.81, a pullback from higher price levels during the session. They topped Nasdaq's list of volume leaders. The Seattle-based company backed its 2007 per-share profit forecast of 87 cents to 89 cents, and said it will buy back an additional 25 million of its shares.

For its fiscal second quarter, Starbucks reported net earnings of $150.8 million, or 19 cents a share, up from $127.3 million, or 16 cents share, a year ago. Revenue rose to $2.26 billion from $1.89 billion. Analysts polled by Thomson Financial had been looking for a profit of 19 cents a share on revenue of $2.3 billion. Sales at Starbucks locations open for at least a year rose 4%. See full story.

Jones Soda Co.
JSDA, -0.74%
another Seattle-based beverage company, saw its shares take a spot among the evening's top volume movers. However, they closed down 16% at $21.12. Jones Soda reported first-quarter sales of $9.19 million, up from $8.76 million a year ago, but under the consensus estimate of $13 million.

Net earnings came in at $58,312, or breakeven on a per-share basis, up from $2,542, or breakeven on a per-share basis, last year. There were 26.4 million shares outstanding during the quarter and 22.6 million outstanding last year. Gross margin increased to 38.3% from 35.6% last year.

Bebe slips; Crocs shares step up

Shares of Bebe Stores
BEBE, -7.53%
fell 2.3% to end at $16.95 after the women's clothing retailer forecast fourth-quarter earnings of 17 cents to 21 cents a share and with same-store sales falling in the low- to mid-single digits. Analysts currently expect earnings of 25 cents a share.

Bebe's fiscal third-quarter earnings fell to $12.9 million, or 14 cents a share, from $13.3 million, or 14 cents a share, last year as higher costs and expenses offset an increase in revenue. Sales rose 16% to $154.4 million. Analysts were looking for earnings of 13 cents a share on revenue of $152 million.

Meanwhile, shares of Crocs Inc.
CROX, +3.90%
ran up 16% to a close of $66.73 following the Colorado-based shoemaker's forecast of a strong increase in second-quarter results and first-quarter results that came in ahead of Wall Street's outlook.

It said first-quarter net income jumped to $24.9 million, or 61 cents a share, from $6.41 million, or 17 cents a share, a year earlier. Revenue more than tripled to $142 million from $44.8 million a year ago. Analysts were looking for a profit of 49 cents a share on $113.9 million in sales.

Crocs also said it expects second-quarter earnings of 80 cents to 85 cents a share on sales of $180 million to $190 million. The current estimate is for a profit of 63 cents a share on sales of $135.6 million.

Shares of insurer 21St Century Holding Co.
TCHC, +0.00%
plunged 44% to $11.18 after the company cut its 2007 earnings forecast. The company now expects earnings of $2 to $2.50 a share, below its previous forecast of $4.50 a share. The company cited rate-setting issues in the Florida as reason for its lowered outlook.

For the first-quarter, 21st Century said net earnings fell 86% to $842, 805, or 10 cents a share, compared with $6.01 million, 83 cents a share, last year.

First Solar shares heat up; QLogic down

Stock in First Solar Inc.
FSLR, -0.88%
climbed 7.1% to $62.07 after the solar modules maker said it swung to a profit in the first quarter on sales that more than quadrupled to $66.9 million. See more.

QLogic Corp.
QLGC, +0.12%
shares closed with a 5.2% loss at $16.90. The networking products company posted a 43% drop in fiscal fourth-quarter net earnings to $18.4 million, or 12 cents a share. Excluding items, earnings would have been $35.2 million, or 22 cents a share. Revenue rose to $147.1 million from $130.5 million. Analysts had forecast fourth-quarter earnings of 23 cents a share on revenue of $151 million.

Intraday Data provided by SIX Financial Information and subject to terms of use. Historical and current end-of-day data provided by SIX Financial Information. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements.